In contrast to considerable data activity in the UK, US and further afield, the Eurozone had a relatively quiet time on Wednesday, with only French Consumer Inflation data posting a negative figure, as expected. Industrial production data in the European Union also declined further, a figure that has struggled in the last six months.
The euro did experience movement with its major currency pairings as a result of sterling strength and US dollar weakness. Strong labour data for the UK meant that sterling recovered a significant proportion, if not all, of Tuesdays losses against the euro, while the US dollar weakened just over half a cent against the euro.
With minimal data expected today, we could see further euro movements on the back of both sterling and US dollar releases.
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